(Last Updated On: September 1, 2018)

Basic Savings Account with India Post Payment Bank (IPPB)

Basic Savings Account

This savings account has all the features and benefits offered by the Regular Savings Account (except that it allows only four cash withdrawals in a month). The aim of the basic savings account is to provide primary banking services at a very nominal charge.

Key Account Features and Benefits

Banking at your convenience
Instant and paperless account opening
Interest rate of 4% p.a. on EOD daily balances, paid quarterly
No monthly average balance required to be maintained
The account can be opened with zero balance
Free quarterly account statement
Mini statement through SMS
Simplified banking services through QR card
Instant fund transfer through IMPS
Easy bill payment and recharges
Can be linked to a POSA (Post Office Savings Account)

What makes different

Free account opening at your doorstep
Assisted services through the GDS, as and when required
Availability of funds at your doorstep, upon request
Bill payment facility at your doorstep
Simple and secure banking with QR card
Multilingual customer support
No commitment of minimum balance
Nominal charges
Day end balance above Rs. 1 lakh can be swept out to a linked POSA (Post Office Savings Account)
Access to our growing merchant network through IPPB QR card
Four cash withdrawals allowed in a month